Vase found in UK home fetches $89 million

This photo released by Bainbridge Auctioneers shows a Chinese vase  which was sold for  43...
This photo released by Bainbridge Auctioneers shows a Chinese vase which was sold for 43 million pounds. (AP Photo / Bainbridge Auctioneers ho, via PA)
An 18th century Chinese porcelain vase discovered when a house was cleared out has been sold at a London auction for £43 million ($NZ89 million).

Bainbridges, the auction house, said that the final price for the 30cm-inch vase - an imperially commissioned piece decorated with a fish motif - far exceeded the pre-auction estimated price, which was about £1.2 million.

The final amount was thought to be among the highest ever paid for any Chinese artwork sold at auction.

After fierce competition among Chinese buyers, the vase was bought by a Chinese bidder who turned up to bid on behalf of an undisclosed buyer.

The auction house - a small, independent company in the London suburb of Ruislip that runs auctions and valuations for people clearing their homes - said the vase is of exceptional quality and that it knew the estimated price was "a bit conservative."

Still, the final price was beyond all expectations.

"The rumours grew as more people came to see it ... but we had no idea it would go for this price," Helen Porter, a spokeswoman at Bainbridges.

The vase was found in "an ordinary home," Porter said. It is believed to have been acquired by an English family during the 1930s or earlier.


 

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